Business World |

LE FIGARO – You met President Nicolas Sarkozy Friday. What is your analysis of the crisis in the euro area?

Pedro Passos Coelho – Our views are converging. We must accelerate the process of ratifying the plan in July that the EU speaks with one voice. It is essential to avoid systemic risk. How to convince the markets where European leaders expressed doubts on the future of Europe! It must be absolutely avoided, it is better to be silent than to sow doubt.

Would it be better to organize the failure of Greece?

I refuse to make predictions, I'd rather be patient and hope that Athens takes its objectives and carry out sustainable reforms. If Greece dark, the entire EU to be at risk.We need to help Greece and at the same time strengthen the EU, to establish a more integrated economic government which deals with taxation.

What are the consequences in Portugal of the deepening crisis in Greece?

Portugal is in a vulnerable position vis-à-vis Greece. If the crisis worsens, it will make our recovery process more difficult. My vision is very pragmatic: we must make every effort to carry out reforms and fiscal consolidation.

Economists doubt your ability to meet commitments on fiscal 2011?

The aid package was negotiated before the elections. Since then we have taken additional steps preventive and our calendar of spending cuts is more ambitious. We have the political support for it.We will keep the target of 5.9% of GDP deficit in 2011 and are targeting a primary surplus (excluding debt service) in 2012 for a balanced budget in 2015 and an external account deficit by half a point against 9% last year. In addition to the expenditure side and the privatization plan, we will conduct several structural reforms, justice, labor market, too rigid regulation. We will create a board of public finances, which will be independent to ensure full transparency in the management of the state.

Where are you from privatization?

We are to remove the golden shares held by the state in public enterprises, then we will begin the process of privatization in the energy sector by mid-November, by selling the companies for electricity, gas and oil, which Galp.We will then proceed to the privatization of the airline TAP, the airport manager Ana, mail, freight rail and radio station public television RTP. The whole process should be finalized in late 2012, the objective to recover at least 7 billion euros.

Have you received expressions of investors?

Yes, many, from the European economies but also emerging countries, Brazil, China and several Arab countries bad credit unsecured personal loans.The president of the National Bank of Economic Development in Brazil (BNDSE), the President of Brazil, Dilma Rousseff, Lula and his predecessor have already come to us with investor interest in Brazil.

This interest is there also for the government debt?

The purchase of public debt is subject to specific rules, but the important thing is that there were demonstrations of confidence in this government about the quality of Portuguese debt.

Will you create a wealth tax, such as Spain prepares to do?

We refused this solution, not to discourage large fortunes to come and settle in Portugal. However, we have created a special tax of solidarity that will help tackle the portion of 2.5% marginal tax on income that will affect higher wages and will last two years.We also created an additional tax of 3% on business profits in excess of 1.5 million euros, also for two years. The purpose of these taxes is not to create an additional revenue but to allow us to finance social assistance measures for families hit hardest by the crisis.

What are these measures?

They are primarily related to housing. Households that can no longer repay their debts to buy their apartments can contact their bank for the loan to be converted into low-rent, which will relieve the financially while allowing them to remain at home. Similarly, those earning up to one and a half times the minimum wage benefit from using public transport.In addition, if we were forced to raise to 23% VAT on gas and electricity, we have created a social tariff for the poorest.

How to boost growth given that domestic demand will remain very low?

It is true that the austerity has a recessive effect. The middle class will suffer significant sacrifices. That's the ticket out of the crisis, the price of a country that has spent too long. Domestic demand will have a negative contribution to the end of 2012. This will be offset by exports that are doing well. The adjustment must be done very quickly to ensure the financing of the economy. Privatization are important to increase the availability of cash to help recapitalize banks. This will improve competitiveness, greater openness and internationalization of our economy.The State abound 12 billion euros in guarantees for banks.

Competitiveness remains the weak point of Portugal?

Hence the urgent need to launch structural reforms, which should have been done in conjunction with the entry into the EU. The country in several sectors – textiles, information technology, biotechnology … the high performers.

No less than 7000 pages posted! This is the amount represented by the reports of its nineteen nuclear power plants (58 reactors in operation over the EPR under construction at Flamanville) EDF is currently on schedule to transmit to the Nuclear Safety Authority (ASN) . The "policeman" of the atom is committed, through the voice of its Director General Jean-Christophe Niel to publish in full on its website.

The delivery of copies by EDF and other operators of nuclear facilities is only the first step in the process of "revaluation additional security" required by François Fillon after the accident at the plant in Fukushima, and conducted in parallel with the European approach called "stress tests". Experts from the ASN and IRSN (Institute of Nuclear Safety and Radiation Protection) now have three months to publish their report.Extra work for which the ASN has even mobilized to reinforce the "three or four young retirees". Even before the peer review of these reports by experts from other nuclear countries in Europe, between January and April 2012, some foreign experts will participate in the analysis of the copy of EDF.

Alongside the work on paper, the ASN program completed in October of 38 inspections in power, focused on protection against earthquakes, floods, power loss, loss of cooling and crisis management.

During December, the ASN requested EDF as it deems necessary measures – as it has already been done to strengthen the concrete slab of the Central Fessenheim. From January to April, reports of national safety authorities will be considered by their European peers.In the nuclear environment and the hexagonal Quai d'Orsay, is expected to undergo strong pressure from Germany to close the central border Fessenheim, Cattenom and Chooz.

Canal + has crossed the Rubicon and wants to become a major player in free television in France. Thursday, the group led by Bertrand Meheut announced the takeover of Direct 8 Direct and Star, two DTT channels free of the Bolloré Group. Initially, Canal + buys 60% stake in the TV division of Bolloré Media and awards it operational control. In three years, he may redeem the remaining shares. The operation was buckled in 48 hours! "I know and appreciate for a long time the leaders of Vivendi, Jean-René Fourtou and Jean-Bernard Levy, and Bertrand Meheut, CEO of Canal +. I am very pleased to be associated with such a good team, "said Vincent Bollore, Bollore Group CEO.

Gone are the days when the giants were the audiovisual respect the Yalta on TV: TF1 and M6 to the largest piece of the free TV, Canal + in the world of pay-TV and its 11 million subscribers. In France, the two families have substantially the same size: just over 3 billion euros for free TV financed by advertising and about $ 4 billion to pay.

After struggling for years to ensure a near-monopoly on pay TV (up to buy its rival TPS), it will not take long to Bertrand Meheut to tumble into force on the television commercial. Now a subsidiary of Vivendi will have three frequencies of DTT: iTV, Direct 8 Direct and Star. Be as much as TF1 and M6 more than the group which, in addition to the namesake chain, has only W9.For Bertrand Meheut, this operation meets the logic of "creating strong audiovisual groups able to defend themselves both on the live broadcast on the non-linear over the Internet. This will increase the value of our programs will experience an exclusive first exhibition in pay and free TV in a second. And pay-TV business is our heart. "

465 million for Bolloré

If this sounds like a declaration of war groups TF1 and M6, the marginalized, at the same time, the few independent French media landscape, and BFMTV NRJ12. With the launch of DTT in 2005, the Higher Audiovisual Council wanted to bring new players in the PAF: Bolloré Group AB, NextRadioTV and NRJ Group. But since the first two have sold their frequencies. Claude Berda NT1 and TMC has given its ally TF1.Bolloré sells Direct 8 Direct and Star in Canal +. The two remaining independent are the big losers. For its part, Bolloré Media made a good deal. Since 2005 he has invested hundreds of millions of euros in Live 8 and 70 million euros for the acquisition of Direct Star. Five years later, it enhances its flagship TV to 465 million euros! The channel Direct 8, mini-general, would be about 350 to 400 million euros Faxless payday loans. Direct Star would be a hundred. "We have successfully completed the first phase by creating Direct 8 from scratch and placing it among the first of TNT. But for the second phase, which will see all the media groups to engage in significant competition on the content, we decided to partner with a large broadcasting group, "said Vincent Bolloré.The myth of an audiovisual largely open to competition turns into a clash between three private-TF1, M6 and Canal + – and a public group, France Televisions. With their financial firepower, the first three will fight a war without thank you for the acquisition of content.

Add to this a sharp competition for advertising. Canal + now has a board weighing 400 million. Bertrand Meheut is trying to calm things down by stating that "this partnership does not change the industrial landscape, since we are in the continuity of existing channels. We are small in this market for free TV. " He recalled that "TF1 and M6 are, conversely, present in the pay television."It is unclear whether this is enough to calm things down, because, at the same time, the president of Canal Plus says it does not want to "abandon its free channel Canal 20" under channel offset. In this case, Canal +, which exceeds the number of authorized frequencies (maximum seven), should sell two. "It will sell certain frequencies paying," he says. The chain may be referred planet, present on the DTT.

This comes on the eve of the presentation of the report of Michel Boyon, president of CSA, the future of DTT. It is now a fait accompli. The media landscape is recomposed without him. If Canal + bought Direct 8 Direct and Star, the future of DTT is widely drawn. The TF1 group is in a strong position to demand not only the transfer of its news channel LCI of DTT (where it is marginalized) to DTT.But Nonce Paolini, CEO of TF1, claim compensation as a string, which should be TV Breizh. For its part, the M6, if he will not be weakened, will support its claims. He also wants to transform its pay DTT channel Paris Première chain free. And he also wants compensatory chain among its two projects WikiTV M6 family.

ALSO READ:

"INTERVIEW -" Canal + will launch a general entertainment channel free "

"INTERVIEW – Bolloré:" Neither Canal + does not dominate the Bolloré DTT "

François Fillon on Monday took a trip to the nuclear power plant of Bugey in Ain – one of the oldest park of EDF, one of the reactors suffered its general review of thirty years – to reiterate the government's argument in favor of nuclear energy. Being understood, said the Prime Minister, that "safety is the top priority." The end of a busy year on the last record. Six months after the disaster of Fukushima, Japan, EDF must provide a copy within two weeks of testing the resistance of French power stations.

ASN will then evaluate, by December, the information on the resistance of plants to earthquakes and extreme flooding.Asked about the failure to take into account the risk of terrorism in these tests, François Fillon acknowledged that the current plants – unlike the EPR reactor being built in Flamanville – would not survive the fall of a "jumbo" in the case of an attack like September 11, 2001 but that there are "other means than concrete" to counter an air attack, referring to anti-aircraft missile batteries and fighter on permanent alert. The prime minister also responded to a question about the resistance of the Flamanville earthquakes, following the information published in Le Canard chains."No need to read Le Canard chains, he said, all information is on the website of the Nuclear Safety Authority" (ASN) has called, playing the role of "sting", a better resistance of building control fast payday loan.

Besson favor of "stress tests"

The Prime Minister also called for the establishment of international safety standards. A goal that will not be met "for years" according to Andre-Claude Lacoste, President of the ASN, because of the hostility of countries like China, India and the United States. Eric Besson, Minister of Industry, will defend to the IAEA in Vienna, September 19, the idea to conduct stress tests in all nuclear countries. Pending the possible orders of the nuclear policeman at the end of the year, EDF provides better security of its power at all times.Example, during the four months off during the revision of the number 5 reactor Bugey, pre-authorization for an extension of ten years, 25 million euros is being invested to enhance its resistance to earthquakes.

Security has its price. Henri Proglio, the chairman of EDF, has also invoked July 29 to assert that it would be "natural" that the price at which EDF has to sell part of its current competitors (price Arenh) increases until to 46 euros per megawatt hour, while the authorities have set at 42 euros on 1 January 2012.

Responding to the BBC on this, François Fillon said "common sense" the current level of Arenh but added that more security funding for renewable energy made inevitable the rise in electricity prices. In government, he added, to control it as much as possible.

GroupM was promised a destiny to Twitter and Foursquare. Like the latter, the start-up in New York was revealed at the conference Internet "South by Southwest," which was held in Texas in March. But barely a year after its creation, GroupM has already attracted the attention of the giants of the Internet and has just been bought by Skype for an estimated $ 80 million.

The operation allows the specialist to Internet telephony to build a niche in the amount of online communication: messages grouped. With services such as GroupM, users can create discussion groups on their mobile phone and communicate with others, forming "chatrooms" private SMS.In recent months, major Internet players have been enamored of such services, which range from communication, and coordination, like Facebook, which bought the Beluga service in March 2011, eight months after its creation. In addition, the social network launched mid-August, Facebook Messenger, a mobile instant messaging application.

For its part, Google has made this communication bundle a cornerstone of its community platform + Google launched in late June, with the "hangouts" spaces bundled instant messaging and video. Finally, as recently shown by the London riots, the BlackBerry is an actor to be reckoned with in this area, through its private courier BBM (BlackBerry Messenger). Now owns GroupM, Skype will better stand up to these types of communications fast cash without a hassle.

175 million monthly users of Skype

"Skype and GroupM have a common vision.GroupM's team has created a messaging experience incredibly attractive bundle that runs across the terminals and mobile platforms, making it a perfect complement in voice, video and text of the Skype family, "said Tony Bates, general manager of Skype, in a statement.

For Jared Hecht, co-founder Steve Martocci GroupM, "there is a natural affinity between Skype and GroupM.""Our goal is to continue to develop tools that allow people to easily communicate, share and keep in touch with their close relations and important," he said, arguing that integration with Skype would allow the start-up achieve its vision of "ten times faster."

The start-up is already looking forward to see the service offered to 175 million monthly users of Skype.

The acquisition of Skype by GroupM, which is the subject of discussion for several months, could also be beneficial to Microsoft. It announced the acquisition of Skype for $ 8.5 billion in May.While sentencing the operating system (OS) Windows Mobile Phone 7, the software giant could find with GroupM a valuable feature to include in its bid for smartphones.

ALSO READ:

"Facebook and Google are interested in Skype

"Microsoft buys Skype for $ 8.5 billion

The anonymous CV will remain "a possibility among others", and will ultimately not generalized to all companies with more than 50 employees. In the law on equal opportunities in 2006, this measure of fight against discrimination is now increasingly popular. "I do not think the anonymous CV should be an obligation," said first Echos to the Commissioner of the Equal Opportunities Sabeg.

Before publishing the decrees of the device, the government had requested a progress report. By the Centre for Research in Economics and Statistics (CREST) ​​in conjunction with employment center, the evaluation was very critical.

In a note published in July and the conclusions of Crest, employment center points out that the anonymous CV does not improve the chances of access to interview candidates from immigrant backgrounds or areas sensitive urban. He even tends to reduce them: the anonymous CV, and diminish their chances by 9.6% to 4.6%.

Experimental bias

The organization provides two explanations for this paradoxical result. The first is that the anonymous CV would not allow the recruiter to put certain negative elements of the CV, such training less prestigious or less experience, according to social background or age of the candidate. Something that would naturally some recruiters.

The second reason to do more to challenge the findings.The experiment conducted between November 2009 and November 2010 would be biased as carried by companies sensitive to issues of discrimination, practices that would lead usually proactive in recruiting minorities. The anonymous CV so would deprive them of a way to diversify the profiles of their candidates.

One tool among others

Employment center stresses, however, that anonymous CV is generally less attractive to a recruiter a resume registered. Hence his concern that candidates applying via an anonymous CV will do also in turn be subject to discrimination compared to those who apply via other channels. All these observations lead the institution to question the need to generalize this scheme. A judge concluded that option "not possible".

Sabeg remember his part that "the government must decide" on this issue.But once staunch supporter of the measure, he argued today it remains a recruiting tool among many, "that some companies use successfully elsewhere," says he. To promote access to employment of diverse routes, employment center said meanwhile that other routes exist. Recruitment or without CV questionnaires skills are few.

The anonymous CV effective for women

If the anonymous CV is based on the Crest ineffective for candisats immigrant and Zus, it is however for gender discrimination. Indeed it has the advantage of counter behavior "hemophiliacs" recruiters. Behind this phrase lies their spontaneous tendency to favor the candidates of the same sex."When the interviewer is male, the probability for a woman to access the interview with a CV is registered 16.6 points lower than that of a man," is employment center. Recruiters prefer women as women, but to a lesser extent. The anonymous CV will reduce this inequality significantly, the study provides.

ALSO READ:

"INTERVIEW -" The anonymous CV is not a miracle tool "

"The anonymous CV is still struggling to win in Europe

"The anonymous CV is progressing slowly

After one week on the black market European markets, policymakers in the euro area seized by the horns of the question. Nicolas Sarkozy must indeed meet this Friday with German Chancellor Angela Merkel, then with the Spanish Prime Minister Jose Luis Zapatero. These exchanges aim to take stock after the bear market in Europe yesterday. The head of state has already mentioned this yesterday with Jean-Claude Trichet, president of the European Central Bank (ECB), which failed yesterday to restore calm on financial markets.

In their discussions, the three heads of state should include mention the announcement by Olli Rehn, Commissioner for Economic and Monetary Affairs this morning of a new stage in the debate on European bonds (Eurobonds). The news was welcomed on the European financial centers.After an open down sharply by 2.5%, the Cac 40 has reduced its losses one hour after opening.

A report on European bonds issued after the summer

Anyway, the official European, the European Commission will, in fact, a report on the subject "after the summer," putting on the front of the stage waving and debate divides EU officials for two years. This idea is not new in itself, proposes to issue debt securities to common European states. These securities are guaranteed by all Member States of the euro area, to allow countries unable to borrow on the markets on terms acceptable to the markets, to finance themselves. In short: it would be to issue debt on behalf of the European Union, as can the U.S. Treasury to communitarise debts of the countries of the euro area.The creation of this type of debt across the euro area would therefore raise the fears of investors about the creditworthiness of a particular state.

In addition to its economic dimension, the project also presupposes political choices instant payday loans. It is indeed based on the principle of mutual assistance in euro, which hit the sensitivity of some countries, notably Germany, which does not hide its hostility to the project. Main complaint: the countries financially "healthy" could only suffer through the European emissions, their solidarity with the countries most in need. In short, Germany does not want to take the weight of debts of some of the euro area.Note however that according to the draft presented by the Luxembourg Jean-Claude Juncker and the Italian Giulio Tremonles, advocates of the project, Eurobonds would not intended to replace the national debt.

Halt in mid-July

After being ignored for six months the project had been emerged from the closet in early July. But 15 days later, a new setback: Jens Weidmann, the head of the German central bank (Bundesbank) has criticized the project, saying that "there was nothing better to destroy a rapid and sustained strong making fiscal policy a common responsibility for the debts of States.This is exactly what some politicians and economists to offer Eurobonds to solve the problems of Greece. "

Whatever the conclusions of the report of the European Commission in September, the debate on the desirability of strengthening the political commitment at European level promises to be more agitated.

ALSO READ:

"The issuance of Eurobonds, the weapon against infection?

"Merkel and Sarkozy will call Zapatero on Friday

– INTERVIEW – B. Prot: "Stop the constant stress on the euro area"

"The ECB tries in vain to calm markets

"The market correction is exaggerated"

On the night of Sunday to Monday, an agreement was reached between Republicans and Democrats to raise the U.S. debt ceiling. A favorable outcome that immediately reassured the markets: when Barack Obama announced the compromise to 2:45 Paris time, Asian stock markets – open to this hour – surged after learning that the failure to pay the United States was avoided. The Nikkei in Tokyo rose 1.7% immediately before finishing up 1.34%. Later, in Europe, major indices also showed the green, like the Cac 40 in Paris, which opened up 1.35%, and the ragagnant 3700 points, the Footsie Londoner, who took 1.07 % and the Dax in Frankfurt (+1.5%).

Safe haven, gold subside sees the outbreak of the course, which showed great concern on the part of investors.The yellow metal, which was still worth almost 1630 dollars per ounce on Friday, and is around 1615 dollars fell on Monday.

Immediate response as the currency market, the dollar has suddenly taken against major world currencies, particularly against the yen (the dollar rose from 77.3 to 78 yen per hour), just after the announcement.

Reassured the markets for a while

But around noon on Monday, the dollar back down a little already, one euro was trading against 1.4437 dollars (0.23%). Same against the Swiss franc, another safe haven, which goes back to full speed again against the dollar and historical levels of force, to 0.78 Swiss francs to the dollar.

Thus, if the news is welcome, the markets are not won by the euphoria. They are waiting because the confirmation of the plan by a vote, or some Republicans have expressed strong opposition to the agreement.Already on the European stock markets, the increases are bunched together in mid-day. And on Wall Street indices predicted a future increase in the Dow Jones 1.3%. Not enough to make up for the fall of 4.4% registered in the past week.

Markets are also wary because the details of the agreement remain unclear. In addition, the debt ceiling would require a new vote in early 2013, after the presidential elections. Now remains to be seen how the rating agencies will react to reductions in planned expenditure, less important than they hoped. However, they have warned: even if the United States are not lacking, this would not prevent the AAA rating of the country may be degraded.In this case, markets may again sink into depression.

ALSO READ:

"The dollar, a victim of the long debate on U.S. debt

"U.S.: Agreement in extremis on the debt cap

It's like income a year and a half ago. At the time, Renault intends to build its Clio IV in Turkey and not on the site Flins in the Yvelines. The government had to intervene and finally get the direction the car is partly built in France.

Will history repeat itself with PSA that intends to close its factory in Aulnay-sous-Bois (Seine-Saint-Denis) and Sevelnord (North). Except that unlike Renault's 30% owned by the state, the manufacturer, a lion is a 100% private. The scope of government is much smaller.

"These companies are accountable to the nation"

The State is taking this matter very seriously.If the Minister of Industry, Eric Besson, who met Thursday evening PSA CEO, Philippe Varin, said he was "reassured" by the commitments made by the carmaker, Prime Minister Francois Fillon, the move to guérande (Loire-Atlantique), did not hesitate to call the toll paid by the state to help a struggling sector during the economic crisis. At the time, PSA and Renault had received three billion euros each. "Given the large amount of aid made to the French car industry by the government, I would not and would not understand that these companies are not beholden to the nation that has helped low interest personal loan." The Prime Minister will also have the opportunity to discuss this news with Philippe Varin on Saturday, as both men find themselves in the 24 Hours of Le Mans.

The Socialist Party (PS) is however not reassured."I do not have much confidence in his statements (Philippe Varin), says the spokesman of the Socialist Party, Benoît Hamon. Because we see a real transhumance migration of automotive production facilities and their equipment from the west to the east of Europe. " For its part, the Socialist mayor of Aulnay-sous-Bois, Gerard Segura, is confident that "until 2016, when production of the C3 should end in this factory. The industrial director of PSA, Denis Martin, had said Thursday that "industrial, it is absolutely impossible to give a guarantee on a sustainable medium and long terms. We have visibility into our roadmap to a year or 18 months. It is an absolute maximum, "he concludes. No doubt the state will seek to convince SAP to reconsider its plans.

Serious competition from Google's Android, Apple gave Monday a facelift to the iPhone. Surrounded by a cohort of leaders, CEO Steve Jobs introduced from San Francisco, California, the new version of IOS, the operating system behind the iPhone, iPad, iPod touch. This software, including a 5 iOS draft was made available to developers on Monday, will be available for the iPhone 3G, iPhone 4, iPad iPad 2, and the latest iPod touch here in the fall personal business card. Here's what we can learn from this presentation.

Devices iOS archive their data on Wi-Fi and 3G. Photo credits: Kimihiro HOSHINO / AFP